Moving questions: Buying a house

So, we’ve written already about some of the questions which you should definitely ask yourself when you are buying a house. But, there are also some enquiries which you should be prepared to pose when you are talking to your realtor and to the sellers of the home. Today, we will be talking a bit more about that. First and foremost, before we get on to the new set ofmoving questions, let’s talk about the criteria which they are divided into.

The three biggest topics to go over when buying a house

Most people buy a house because they fall head over heels for it when they see it. And, if you’ve already been through your first home purchase and you’ve felt this, you will be more prepared for it this time around. So, before you sign on the line on the bottom of the page, be sure to take into account just how good the deal is which is being offered. So, let’s talk about the topics of the moving questions:

Offering price

This is the amount of money which you will be offering to buy the house for from the seller. The main questionwhen relocating here is: What should I base this estimate upon? Well, when offering a price for buying a house you should check out similar homes in the area and how much they have been bought for. It is a common mistake in first time home buyers that they will offer a price based on other homes which they have looked at. Or, if you are talking to the seller directly when purchasing a home, based on what they have asked for.

Condition of the house

These are some additional costs which you may need to pay for after moving in. So, here’s another good moving enquiry topic for you to consider: How much will I need to pay to live here comfortably? The worst thing which you can do when facing some repairs in your new home is guess the estimate. In order to prevent the common error of overestimating the costs, we would suggest that you ask about the estimate. Some sellers will even deduct the price of repairs from the house price. And finally, whenbuying a house, be sure not to simply subtract the estimate for repairs, as they should be flexible.

Location of the house

Finally, this topic for moving questions needs no introduction. After all, it is a huge difference if you will be buying a house with an ocean view or purchasing a home in remote countryside. Obviously, the location will have a great impact on the price of the house. After all, if the house is in a bad location, you will have a lot of trouble selling it. So, we would definitely suggest looking away from the shiny, new and attractive house before buying it and searching for the nearby train tracks or club which might keep you up at night.

Some moving questions which you should ask before buying a house regarding the offering price

How much was the house sold for the last time?

While this might not be on your mind when you are buying the place this time around, we assure you that it could greatly impact the offering price. After all, it makes a difference if thehome which you willbe buying is a foreclosure flipper, no?

How much does the seller owe?

This is also a moving question which you should be prepared to ask. If they owe more than the price of the house, you are buying a short sale. Or, the seller might need to bring cash to closing. All in all, it is much better for you if the seller whom you are buying the house from owns equity.

How much is that one?

We’d suggest checking out the other homes in the area with a similar setup and seeing the offering prices. This will help you decide on a fair offering price when buying a house for yourself.

How many offers has the seller received?

While the competition may be frightening, let us remind you that you might not have to offer the most money, just to be steadfast. After all, it is often the last offer which is taken by the seller when purchasing a house.

How long has the home been on the market?

If you are looking at buying a house in the city, if it has been on the market for 90 days or more, you may be able to negotiate a discount! Of course, this goes for rural areas, as well, but for a longer period of time.

You should also ask some things regarding the condition of the house before purchasing the home

What’s the age of the roof?

This is an important inquiry, as a new roof has a life expectancy from fifteen to fifty years, and sometimes even more. If the roof isn’t new, a good question to ask when buying a house is regarding repairs, if necessary, and who will be paying for them.

What is type of foundation was the house built on?

There are different types of foundations, from raised (which allow for easy access to plumbing) to slab (which are more common in modern homes). Knowing the terrain on which the house was built and the type of foundation will help you in determining the perfect price when buying the home.

Could you tell me more about insulation?

When buying a house be sure to ask about the insulation in the walls and the attic.

Have any appliances or systems been replaced and when?

If you’re buying a house make certain to check the age of the appliances, plumbing, electrical and also if they work, as well.

Some more moving questions to ask when purchasing a house are about the location of the home

Who are my neighbors?

The demographics of your neighborhood might influence your choice when buying a house. The best way to get an answer to this moving question is to talk to the neighbors or the realtor.

Are there schools nearby?

If you’re buying a house with a family, you will most definitely consider this question sooner or later.

Is there anything which could bother you?

This is definitely one of the most important moving questions which you should ask when buying a house. Remember how we talked about the noise factor at the beginning of our post? Well, here is where you should be sure to explore your neighborhood for any nuisances which might bother you after purchasing the home. If there is a loud club nearby, or perhaps a busy restaurant, be sure to take note. Also, look for any train rails, etc.